NLEX Corp. announced plans to borrow P5 billion to partially finance the expansion of its existing highway network.
“We are seeking the approval of the Toll Regulatory Board (TRB) for the NLEX Phase 3 Expansion Project before finalizing the loan amount,” said NLEX President and CEO J. Luigi Bautista.
“The project is awaiting substantial right-of-way (ROW) acquisition,” he said.
The NLEX Phase 3 Widening Project involves the construction of new lanes between NLEX San Fernando and SCTEX Spur in Pampanga. It also includes the installation of street lighting and the transformation of the Mexico interchange into a full diamond interchange for improved traffic flow.
NLEX anticipates TRB approval by the third quarter of 2024. This expansion project is part of a larger investment program of P12 billion for NLEX this year. The program also includes the NLEX Connector Road and the new Candaba 3rd Viaduct, a five-kilometer addition.
